JPMorgan fund in $20bn first-half boost

Highbridge Capital Management, JPMorgan's hedge fund business, ballooned in the first half of this year, raising a fresh $20bn to take its total assets under management to $37bn, according to new data. Aside from the likes of Man Group, whose assets under management include funds of funds tallies,JPMorgan is now the biggest hedge fund manager in the world with $56.2bn.

Highbridge's inflows - part of a broader trend of record inflows in the first six months of this year - came just before spikes in volatility as a result of concerns about problems in the US subprime mortgage markets caught out many celebrated names in the hedge fund world. Losers include Tudor Investment Corp, Moore Capital, Caxton Associates, DE Shaw and Goldman Sachs Asset Management. By contrast, Highbridge's $15bn flagship Multistrategy Fund was up 5%.